Why Is It Often Difficult to Remove a Binding Price

question 171

Multiple Choice

Why is it often difficult to remove a binding price floor after it exists?

• A) in general,because consumers benefit from the lower prices and would lobby their elected officials to keep the price control
• B) in general,because consumers benefit from higher quality products and would lobby their elected officials to keep the price control
• C) in general,because consumers benefit from larger products and would lobby their elected officials to keep the price control
• D) in general,because sellers benefit from higher prices and would lobby their elected officials to keep the price control
• E) in general,because it has little effect on the market price and people forget about it

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Definitions:

Organizational Conflict

Any disagreement, discord, or dispute arising within an organization, stemming from differences in opinions, values, or interests among individuals or groups.

Social Factors

Elements within society, such as family, education, and culture, that affect individuals and their way of life, influencing behaviors, attitudes, and opportunities.

Ethnocentrism

The belief in the inherent superiority of one's own ethnic group or culture, often accompanied by a disdain for other groups.

Exclusionary Policies

Rules or practices designed to intentionally or unintentionally exclude certain groups or individuals.